An Overview of the Mortgage Loan Process

There is little doubt ; getting a mortgage loan is a complicated process. You wouldn't be looking up loan information if you could get a mortgage loan in a single day with a simple application. But Hill Valley Financial Services Inc. does the heavy lifting so you can concentrate on your life rather than the mortgage loan.

Getting a home loan involves four major milestones.

Step one: Decide on your maximum loan amount

A couple of factors determine this amount. What kind of monthly payment are you looking for? What is the maximum you can borrow from a lender, given your income and credit history? You can get a good idea of your preferred payment abount using the calculators on our website. And we can guide you to the right loan amount and best program for you when you answer a few quewstions. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan program you can expect to benefit most from.

Step two: pre-qualify for your loan

This is where the rubber meets the road and you save the most money. You will supply info about your employment, your assets, and residence history. You'll give us your employment, asset, and residence history information. We get your permission to run your credit score and report. After we've finished reviewing the provided information, we'll give you a pre-qualificaiton letter. Be careful with this letter — it is a useful tool for buying your new home! With this letter, your REALTOR® will negotiate the best deal for your new home. While you're looking for a new home with your real estate agent, we find the best program for you.

Step three: apply now! We make it easy

After you've signed an offer and the sellers accept it, it's time to apply for the loan. It's very easy, and you can apply online, right here on our site. When the time is right, we'll order an appraisal of your new home.

Step four: your loan is funded

Your real estate agent and the seller's will coordinate to find a title company to take care of the funding of your loan once it's approved. We'll work with this company to make sure all the papers your lender will require are in order, and you will probably}likely sign all these papers at this company's officeWe do all the work to work with with the title company to set your date to close. Because you don't need to coordinate this process, you can think about moving logistics, painting, carpet, and the details involved in moving into your new home.

You've answered some few questions, provided lots of information, applied online, and before you know it, you're deciding when to move in! Hill Valley Financial Services Inc. is in the business of mortgage loans; you're not — so we do the work. Doesn't that make sense?

Have questions about the loan process? Call Hill Valley Financial Services Inc. at 503-657-3311. It's our job to answer lending questions, so we're happy to help!